Bouvet Q2 2015: Growth and good results for Bouvet


Oslo, 27 August 2015: Bouvet had in their second quarter of 2015 revenue of 315.7 million compared with NOK 276.2 million in the second quarter last year. Operating profit (EBIT) in the period was 34.6 million compared with 23.6 million the corresponding period last year.

For the first half of the year Bouvet reports a revenue growth of 11.4 percent to 642.7 million kroner. Operating income for the first six months was 66.6 million kroner, an increase of 31.5% compared with last year.

- Bouvet has revenue growth in all sectors apart from oil/gas. New deals and services within the oil/gas means that we still maintain satisfactory activity in this sector. Technology, digital communications and business melt more and more together. Bouvet's breadth of competence and proximity to customers that the company is well positioned for this development, says Sverre Hurum, CEO of Bouvet ASA.

Bouvet had in the second quarter this year including depreciation 281.1 million compared to NOK 252.6 million kroner in the second quarter of 2014. This represents an increase of 11.3 percent.

The EBIT margin in the second quarter totaled 11.0 percent, up from 8.6 percent in the second quarter of 2014. For the first six months the EBIT margin ended up being 10.4 percent.

Profit after tax was NOK 25.4 million in the second quarter compared with NOK 17.5 million in the same period of 2014. Diluted earnings per share for the quarter were 2.41 million compared with 1.65 million in the second quarter of 2014.

For further information:

• Sverre Hurum, CEO of Bouvet ASA Tel. +47 913 50 047

• Erik Stubø, Finance Director in Bouvet ASA Tel. +47 950 36 011